Decision approving investment policy in Hanoi

Hanoi has always been at the top of cities attracting foreign investment because of its leading advantages here. Hanoi is the economic, cultural, and political center of the country. Hanoi is a crowded city and an enormous trading market. In industry, in recent years, the capital has focused on developing processing and manufacturing industries, high-tech parks. Moreover, there are information technology zones to develop software and digital technology products. Hanoi also has potential for tourism with many scenic spots and specialties that attract tourists from all over the world, along with the development of tourism supporting service industries such as restaurants, hotels, entertainment venues, …

For an investor to conduct business investment activities in Hanoi, the investor needs to carry out several procedures. In which, an important procedure is a request for approval of the investment policy of the competent authority, especially for projects that want to be implemented in industrial parks and high-tech zones in Hanoi. So, what is an investment policy approval? Which projects need to be approved for investment policy? The following article will introduce to readers.

WHAT IS THE INVESTMENT POLICY APPROVAL?

According to the definition in Article 3 of the Law on Investment 2020, approval of investment policy is the approval of the project’s objectives, location, scale, progress, and duration by a competent state agency; investor or investor selection form and special mechanisms and policies (if any) to implement investment projects.

Specifically, the competent authority will issue a decision approving the investment policy with the following contents:

a) The investor implementing the project (for the case where the approval of the

investment policy is concurrent with the investor’s approval) or the form of investor selection (in the case of the investor selection for the project implementation); project in the form of the auction of land use rights or bidding);

b) Project name; target; scale (preliminary structure of housing products and allocation of land fund for social housing development, a preliminary plan for investment in construction and management of urban infrastructure inside and outside the project scope for investment projects); investment in the construction of houses and urban areas, preliminary part of urban infrastructure retained by investors for business investment, part of urban infrastructure that investors hand over to localities for urban area projects, if any); investment capital of the project (preliminary total cost of project implementation, if any), term of operation of the project;

c) Location of the investment project;

d) Investment project implementation schedule: progress of capital contribution and mobilization of capital sources; progress of basic construction and putting the work into operation (if any); preliminary plan for investment divergence or subdivision of projects (if any); implementation progress of each stage (for investment projects with many stages);

dd) Applied technology (if any);

e) Investment incentives, support, and conditions of application (if any);

g) other conditions for implementing the investment project (if any);

h) Responsibilities of investors and relevant agencies in the implementation of investment projects;

I) Effective date of Decision on approval of investment policy.

Decision approving investment policy in Hanoi

Authority to issue Decision on approval of investment policy

Not all investment projects need to carry out the procedures for applying for approval of investment policies, and depending on each investment project, the agency competent to issue decisions on approval of investment policies will also be different. together.

Agencies competent to approve investment policies include the National Assembly; Prime Minister; Hanoi People’s Committee; Management board of industrial parks and high-tech zones in Hanoi as prescribed in Articles 30, 31, and 32 of the Law on Investment 2020.

In which, the authority to approve investment policies of the Hanoi People’s Committee for projects:

a) The investment project requires the State to allocate or lease land without auction of land use rights or through bidding for investor selection;

b) An investment project that requires the State to allocate or lease land from households or individuals subject to written approval from the People’s Committee of the province under the law on land;

c) The investment project requires the State to allocate or lease land that is not subject to the transfer of land use rights and land-attached assets;

d) An investment project with a request to change the land use purpose is required to obtain written permission for the change of land use purpose from a competent state agency following the law on land unless change the land use purpose of households and individuals that are not subject to the approval of the People’s Committee of the province by the law on multi-faceted land.

In the above cases, when the project is implemented in an industrial park or high-tech park, the authority will be the Management Board of that zone.

Dossier to prepare

a) A written request for implementation of the investment project, including a commitment to bear all costs and risks if the project is not approved;

b) Documents on the investor’s legal status;

c) Documents proving the investor’s financial capacity, including at least one of the following documents: financial statements of the last 2 years of the investor; commitment to the financial support of the parent company; financial institution’s commitment to financial support; guarantee on the financial capacity of the investor; other documents proving the investor’s financial capacity;

d) Investment project proposal, including the following main contents: investor or investor selection form, investment objective, investment scale, investment capital, and capital mobilization plan, location, deadline, implementation progress, information on the current status of land use at the project site and proposed land use demand (if any), labor demand, the proposal for investment incentives, impact, socio-economic efficiency of the project, preliminary assessment of environmental impacts (if any) following the law on environmental protection.

If the construction law stipulates the preparation of a pre-feasibility study report, the investor may submit a pre-feasibility study report instead of the investment project proposal;

dd) If the investment project does not request the State to allocate, lease or permit the change of land use purpose, a copy of the paper on land use rights or another document determining the right to use the site shall be submitted. to carry out investment projects;

e) The explanation of the technology used in the investment project, for the project subject to appraisal and consultation on technology according to the provisions of the law on technology transfer;

g) BCC contract for investment projects in the form of BCC contract;

h) other documents related to the investment project, requirements on conditions, and capacity of the investor as prescribed by law (if any).

Depending on the jurisdiction that approves the investment policy, the procedure will be different, for more specific advice, do not hesitate to contact Van Luat for support. Sincerely thank!

Citation source: https://thuvienphapluat.vn

Original source: https://vanluat.com/quyet-dinh-chap-thuan-chu-truong-dau-tu-tai-ha-noi.html